From yesterday to today, there have been rumors about the Supreme Court's decision on crypto trading, saying that trading cryptocurrencies is illegal. In fact, if you read those regulations carefully, I understand:
First, trading cryptocurrencies can become a form of money laundering. After all, when cash is converted into cryptocurrencies, it can be decentralized and bank-free, with borderless and fast transfers. Such transactions can help to launder illegal funds quickly.
Second, in the process of cash and cryptocurrency transactions, any money laundering and illegal funds involved will be classified as criminal offenses, and the proceeds from the process will also be included in illegal activities. Here, as long as the source of funds is clean, the source of funds from the acceptor and the funds itself are clean, it will not involve criminal offenses, and the amount to be redeemed does not reach the criminal amount.
Third, the key people involved in cryptocurrency transactions are mostly acceptors, because even if the funds are clean, when they reach a certain amount, they become illegal foreign exchange payments, and retail investors who pay small amounts have almost no risk.
The above is my personal understanding of the latest document. If you are dissatisfied with the regulations, it is normal.